Leading Vietnamese operator Viettel has closed the acquisition of struggling rival EVN Telecom, according to local website VietNamNet Bridge.
The deal value has not been disclosed.
When contacted, the Viettel press office could not immediately confirm…
Leading Vietnamese operator Viettel has closed the acquisition of struggling rival EVN Telecom, according to local website VietNamNet Bridge.
The deal value has not been disclosed.
When contacted, the Viettel press office could not immediately confirm the information while EVN Telecom was not available for comment before the press deadline.
In early January, it was confirmed that Viettel, controlled by Vietnam’s Ministry of Defence, would take control of EVN Telecom, which is owned by Electricity of Vietnam. The deal, prompted by the government, is aimed at turning EVN Telecom around.
Several Vietnamese operators have been struggling in the country’s overcrowded mobile market. But some recent deals, including the expected merger of VNPT’s subsidiaries, suggest that Vietnam may see the beginning of a consolidation trend among mobile carriers.
